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>>What’s prompting Jane Street to reduce its crypto exposure, including trimming 78% of Strategy’s MSTR?

What’s prompting Jane Street to reduce its crypto exposure, including trimming 78% of Strategy’s MSTR?

crypthub

5/13/2026, 1:30:43 PM

Bitcoin ETF Reductions

Jane Street cut its spot Bitcoin ETF holdings sharply in Q1 2026, trimming BlackRock’s iShares Bitcoin Trust by 71% to about 5.9 million shares (~$225 m) and Fidelity’s Wise Origin Fund by roughly 60% to 2 million shares (~$115 m). It also sold most of its 968 k Strategy shares, dropping to 210 k (~$27 m). The moves came amid volatile crypto and equity markets.

Strategy Shares and Mining Exposure

After a 473% rise in Strategy (MSTR) shares in Q4 2025, Jane Street reversed course, reducing its position dramatically, suggesting active rebalancing rather than a full exit. The firm also trimmed stakes in Bitcoin miners IREN, Cipher Mining, TeraWulf and Core Scientific, reflecting mining’s price‑sensitivity.

Shift Toward Ethereum ETFs

While pulling back on Bitcoin products, the firm nearly doubled its holding in BlackRock’s iShares Ethereum Trust and added to Fidelity’s Ethereum fund, investing roughly $82 m in total. This reallocation aligns with growing institutional interest in Ether ETFs during early 2026.

Selective Crypto Equity Gains

Jane Street increased stakes in several crypto equities, raising Riot Platforms to 7.4 million shares (~$91 m), Coinbase to 888 k shares, and Galaxy Digital to 1.5 million shares (~$28 m). These gains occurred alongside record $16.1 bn trading revenue in the quarter and ongoing legal disputes over the TerraUSD collapse.

What’s prompting Jane Street to reduce its crypto exposure, including trimming 78% of Strategy’s MSTR?

Bitcoin ETF Reductions

Strategy Shares and Mining Exposure

Shift Toward Ethereum ETFs

Selective Crypto Equity Gains

What’s prompting Jane Street to reduce its crypto exposure, including trimming 78% of Strategy’s MSTR?